Domino's Pizza (DPZ) 10-Q 16 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 14, 2015	Jul. 09, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 14, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	DPZ
Entity Registrant Name	DOMINOS PIZZA INC
Entity Central Index Key	1,286,681
Current Fiscal Year End Date	--01-03
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		54,913,919

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 14, 2015	Dec. 28, 2014
Current assets:
Cash and cash equivalents		$ 25,891	$ 30,855	[1]
Restricted cash and cash equivalents		96,817	120,954	[1]
Accounts receivable		113,328	118,395	[1]
Inventories		36,283	37,944	[1]
Prepaid expenses and other		31,691	32,569	[1]
Advertising fund assets, restricted		90,302	72,055	[1]
Deferred income taxes		10,189	9,857	[1]
Asset held for sale	[1]		5,732
Total current assets		404,501	428,361	[1]
Property, plant and equipment:
Land and buildings		28,772	25,859	[1]
Leasehold and other improvements		102,950	99,804	[1]
Equipment		184,189	178,378	[1]
Construction in progress		4,773	6,179	[1]
Property, plant and equipment, Gross, Total		320,684	310,220	[1]
Accumulated depreciation and amortization		(203,488)	(196,174)	[1]
Property, plant and equipment, net		117,196	114,046	[1]
Other assets:
Deferred financing costs		20,398	22,947	[1]
Goodwill		16,176	16,297	[1]
Capitalized software		22,111	20,562	[1]
Other assets		15,260	14,592	[1]
Deferred income taxes		2,259	2,475	[1]
Total other assets		76,204	76,873	[1]
Total assets		597,901	619,280	[1]
Current liabilities:
Current portion of long-term debt		237	565	[1]
Accounts payable		76,961	86,552	[1]
Dividends payable		17,485	14,351	[1]
Insurance reserves		14,892	14,465	[1]
Advertising fund liabilities		90,302	72,055	[1]
Other accrued liabilities		69,336	77,620	[1]
Total current liabilities		269,213	265,608	[1]
Long-term liabilities:
Long-term debt, less current portion		1,527,161	1,523,546	[1]
Insurance reserves		26,057	26,951	[1]
Deferred income taxes		3,457	5,588	[1]
Other accrued liabilities		17,668	17,052	[1]
Total long-term liabilities		1,574,343	1,573,137	[1]
Stockholders' deficit:
Common stock		548	556	[1]
Additional paid-in capital		79	29,561	[1]
Retained deficit		(1,243,353)	(1,246,921)	[1]
Accumulated other comprehensive loss		(2,929)	(2,661)	[1]
Total stockholders' deficit		(1,245,655)	(1,219,465)	[1]
Total liabilities and stockholders' deficit		$ 597,901	$ 619,280	[1]
[1]	The balance sheet at December 28, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 14, 2015	Jun. 15, 2014	Jun. 14, 2015	Jun. 15, 2014
Revenues:
Revenue	$ 488,622	$ 450,463	$ 990,649	$ 904,315
Cost of sales:
Cost of sales	335,950	315,818	680,911	632,628
Operating margin	152,672	134,645	309,738	271,687
General and administrative	60,441	53,282	123,254	106,149
Income from operations	92,231	81,363	186,484	165,538
Interest income	57	27	139	58
Interest expense	(19,010)	(19,851)	(39,163)	(40,177)
Income before provision for income taxes	73,278	61,539	147,460	125,419
Provision for income taxes	27,369	23,077	55,262	46,483
Net income	$ 45,909	$ 38,462	$ 92,198	$ 78,936
Earnings per share:
Common stock - basic	$ 0.84	$ 0.70	$ 1.68	$ 1.43
Common stock - diluted	0.81	0.67	1.62	1.38
Dividends declared per share	$ 0.31	$ 0.25	$ 0.62	$ 0.50
Domestic Stores [Member] | Domestic Company Owned Stores [Member]
Revenues:
Revenue	$ 88,794	$ 78,814	$ 181,169	$ 161,271
Cost of sales:
Cost of sales	66,082	60,717	134,234	123,508
Domestic Stores [Member] | Domestic Franchise [Member]
Revenues:
Revenue	60,827	52,038	122,601	105,459
Supply Chain [Member]
Revenues:
Revenue	302,903	284,928	614,559	569,262
Cost of sales:
Cost of sales	269,868	255,101	546,677	509,120
International Franchise [Member]
Revenues:
Revenue	$ 36,098	$ 34,683	$ 72,320	$ 68,323

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 14, 2015	Jun. 15, 2014	Jun. 14, 2015	Jun. 15, 2014
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 45,909	$ 38,462	$ 92,198	$ 78,936
Other comprehensive income (loss), before tax:
Currency translation adjustment	77	241	(733)	(785)
Tax attributes of items in other comprehensive income (loss):
Currency translation adjustment	84	(31)	465	411
Other comprehensive income (loss), net of tax	161	210	(268)	(374)
Comprehensive income	$ 46,070	$ 38,672	$ 91,930	$ 78,562

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 14, 2015		Jun. 15, 2014
Cash flows from operating activities:
Net income	$ 92,198		$ 78,936
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,028		13,077
Gains on sale/disposal of assets	(272)		(1,687)
Amortization of deferred financing costs	2,550		2,771
Benefit from deferred income taxes	(1,964)		(2,187)
Non-cash compensation expense	7,776		8,080
Tax impact from equity-based compensation	(7,556)		(8,319)
Other	(725)		(623)
Changes in operating assets and liabilities	(3,441)		(29,258)
Net cash provided by operating activities	103,594		60,790
Cash flows from investing activities:
Capital expenditures	(20,238)		(18,948)
Proceeds from sale of assets	8,785		4,967
Changes in restricted cash	24,137		50,743
Other	1,449		(1,049)
Net cash provided by investing activities	14,133		35,713
Cash flows from financing activities:
Repayments of long-term debt and capital lease obligations	(141)		(12,022)
Proceeds from exercise of stock options	2,067		2,648
Tax impact from equity-based compensation	7,556		8,319
Purchases of common stock	(97,634)		(65,006)
Tax payments for restricted stock upon vesting	(3,737)		(4,363)
Payments of common stock dividends and equivalents	(31,039)		(25,130)
Net cash used in financing activities	(122,928)		(95,554)
Effect of exchange rate changes on cash and cash equivalents	237		(28)
Change in cash and cash equivalents	(4,964)		921
Cash and cash equivalents, at beginning of period	30,855	[1]	14,383
Cash and cash equivalents, at end of period	$ 25,891		$ 15,304
[1]	The balance sheet at December 28, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 14, 2015
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. For further information, refer to the consolidated financial statements and footnotes for the fiscal year ended December 28, 2014 included in our annual report on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring items, considered necessary for a fair statement have been included. Operating results for the fiscal quarter ended June 14, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending January 3, 2016.

Segment Information

Segment Information	6 Months Ended
	Jun. 14, 2015
Segment Reporting [Abstract]
Segment Information	2. Segment Information The following table summarizes revenues, income from operations and earnings before interest, taxes, depreciation, amortization and other, which is the measure by which the Company allocates resources to its segments and which we refer to as Segment Income, for each of our reportable segments. Fiscal Quarters Ended June 14, 2015 and June 15, 2014 Domestic Supply International Intersegment Stores Chain Franchise Revenues Other Total Revenues 2015 $ 149,621 $ 327,374 $ 36,098 $ (24,471 ) $ — $ 488,622 2014 130,852 308,718 34,683 (23,790 ) — 450,463 Income from operations 2015 $ 52,723 $ 26,012 $ 29,569 N/A $ (16,073 ) $ 92,231 2014 44,014 23,124 28,971 N/A (14,746 ) 81,363 Segment Income 2015 $ 54,279 $ 28,315 $ 29,509 N/A $ (9,303 ) $ 102,800 2014 45,673 25,126 28,710 N/A (7,996 ) 91,513 Two Fiscal Quarters Ended June 14, 2015 and June 15, 2014 Domestic Supply International Intersegment Stores Chain Franchise Revenues Other Total Revenues 2015 $ 303,770 $ 665,130 $ 72,320 $ (50,571 ) $ — $ 990,649 2014 266,730 617,769 68,323 (48,507 ) — 904,315 Income from operations 2015 $ 108,250 $ 53,207 $ 58,284 N/A $ (33,257 ) $ 186,484 2014 92,105 47,092 56,394 N/A (30,053 ) 165,538 Segment Income 2015 $ 111,552 $ 57,771 $ 58,258 N/A $ (18,565 ) $ 209,016 2014 93,652 51,151 56,173 N/A (15,968 ) 185,008 The following table reconciles Total Segment Income to consolidated income before provision for income taxes. Fiscal Quarter Ended Two June 14, June 15, June 14, June 15, 2015 2014 2015 2014 Total Segment Income $ 102,800 $ 91,513 $ 209,016 $ 185,008 Depreciation and amortization (7,681 ) (6,656 ) (15,028 ) (13,077 ) Gains on sale/disposal of assets 422 131 272 1,687 Non-cash compensation expense (3,310 ) (3,625 ) (7,776 ) (8,080 ) Income from operations 92,231 81,363 186,484 165,538 Interest income 57 27 139 58 Interest expense (19,010 ) (19,851 ) (39,163 ) (40,177 ) Income before provision for income taxes $ 73,278 $ 61,539 $ 147,460 $ 125,419

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 14, 2015
Earnings Per Share [Abstract]
Earnings Per Share	3. Earnings Per Share Fiscal Quarter Ended Two Fiscal Quarters Ended June 14, June 15, June 14, June 15, 2015 2014 2015 2014 Net income available to common stockholders - basic and diluted $ 45,909 $ 38,462 $ 92,198 $ 78,936 Basic weighted average number of shares 54,833,094 55,015,394 55,020,404 55,113,616 Earnings per share - basic $ 0.84 $ 0.70 $ 1.68 $ 1.43 Diluted weighted average number of shares 56,628,237 57,124,457 56,820,743 57,246,871 Earnings per share - diluted $ 0.81 $ 0.67 $ 1.62 $ 1.38 The denominators used in calculating diluted earnings per share for common stock for the second quarter and two fiscal quarters of 2015 do not include 70,910 options to purchase common stock, as the effect of including these options would have been anti-dilutive. The denominators used in calculating diluted earnings per share for common stock for the second quarter and two fiscal quarters of 2014 do not include 199,040 options to purchase common stock, as the effect of including these options would have been anti-dilutive.

Stockholders' Deficit

Stockholders' Deficit	6 Months Ended
	Jun. 14, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stockholders' Deficit	4. Stockholders’ Deficit The following table summarizes changes in Stockholders’ Deficit for the two fiscal quarters of 2015. Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Deficit Loss Balance at December 28, 2014 55,553,149 $ 556 $ 29,561 $ (1,246,921 ) $ (2,661 ) Net income — — — 92,198 — Common stock dividends — — — (34,148 ) — Issuance of common stock, net 23,155 — — — — Tax payments for restricted stock upon vesting (36,154 ) — (3,737 ) — — Purchases of common stock (928,464 ) (10 ) (43,142 ) (54,482 ) — Exercise of stock options 191,572 2 2,065 — — Tax impact from equity-based compensation — — 7,556 — — Non-cash compensation expense — — 7,776 — — Currency translation adjustment, net of tax — — — — (268 ) Balance at June 14, 2015 54,803,258 $ 548 $ 79 $ (1,243,353 ) $ (2,929 )

Dividends

Dividends	6 Months Ended
	Jun. 14, 2015
Dividends [Abstract]
Dividends	5. Dividends During the two fiscal quarters of 2015, the Company paid approximately $31.0 million of common stock dividends. Additionally, during the second quarter of 2015, the Company’s Board of Directors declared a $0.31 per share quarterly dividend on its outstanding common stock for shareholders of record as of June 15, 2015 which was paid on June 30, 2015. The Company had approximately $17.5 million accrued for common stock dividends at June 14, 2015. Subsequent to the second quarter, the Company’s Board of Directors declared a $0.31 per share quarterly dividend on its outstanding common stock for shareholders of record as of September 15, 2015 to be paid on September 30, 2015.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 14, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	6. Accumulated Other Comprehensive Loss The approximately $2.9 million of accumulated other comprehensive loss at June 14, 2015 and the approximately $2.7 million of accumulated other comprehensive loss at December 28, 2014 represent currency translation adjustments, net of tax. There were no reclassifications out of accumulated other comprehensive loss to net income in the two fiscal quarters of 2015 or the two fiscal quarters of 2014.

Open Market Share Repurchase Pr

Open Market Share Repurchase Program	6 Months Ended
	Jun. 14, 2015
Equity [Abstract]
Open Market Share Repurchase Program	7. Open Market Share Repurchase Program During the second quarter of 2015, the Company repurchased and retired 637,587 shares of common stock for a total of approximately $68.1 million; during the two fiscal quarters of 2015, the Company repurchased and retired 928,464 shares of common stock for approximately $97.6 million. As of June 14, 2015, the Company had $35.1 million remaining for future share repurchases under its Board of Directors approved $200.0 million open market share repurchase program. Subsequent to the second quarter, the Board of Directors reset the open market share repurchase program so that the Company had $200.0 million remaining for future share repurchases at July 15, 2015. During the second quarter and two fiscal quarters of 2014, the Company repurchased and retired 687,750 and 909,231 shares of common stock for a total of approximately $49.9 million and $65.0 million, respectively, under the Company’s open market share repurchase program.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 14, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. Fair Value Measurements Fair value measurements enable the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The Company classifies and discloses assets and liabilities carried at fair value in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. The fair values of the Company’s cash equivalents and investments in marketable securities are based on quoted prices in active markets for identical assets. The following tables summarize the carrying amounts and fair values of certain assets at June 14, 2015 and December 28, 2014: At June 14, 2015 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Amount Inputs Inputs Inputs Cash equivalents $ 12,465 $ 12,465 $ — $ — Restricted cash equivalents 68,060 68,060 — — Investments in marketable securities 5,414 5,414 — — At December 28, 2014 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Amount Inputs Inputs Inputs Cash equivalents $ 16,290 $ 16,290 $ — $ — Restricted cash equivalents 93,121 93,121 — — Investments in marketable securities 4,586 4,586 — — At June 14, 2015, the Company estimated that the $1.522 billion in principal amount of outstanding fixed rate notes had a fair value of approximately $1.577 billion; and at December 28, 2014 the $1.522 billion in principal amount of outstanding fixed rate notes had a fair value of approximately $1.597 billion. The fixed rate notes are classified as a Level 2 measurement, as the Company estimated the fair value amount by using available market information. The Company obtained quotes from two separate brokerage firms that are knowledgeable about the Company’s fixed rate notes and, at times, trade these notes. The Company also performed its own internal analysis based on the information gathered from public markets, including information on notes that are similar to that of the Company. However, considerable judgment is required to interpret market data to estimate fair value. Accordingly, the fair value estimates presented are not necessarily indicative of the amount that the Company or the debtholders could realize in a current market exchange. The use of different assumptions and/or estimation methodologies may have a material effect on the estimated fair values stated above.

Sale of Company-Owned Stores

Sale of Company-Owned Stores	6 Months Ended
	Jun. 14, 2015
Restructuring And Related Activities [Abstract]
Sale of Company-Owned Stores	9. Sale of Company-Owned Stores During the first quarter of 2014, the Company sold 14 Company-owned stores to a franchisee. In connection with the sale of these 14 stores, the Company recorded a $1.7 million pre-tax gain on the sale of the related assets, which was net of a $0.5 million reduction in goodwill. The gain was recorded in general and administrative expense in the Company’s condensed consolidated statements of income. As a result of this capital gain, the Company also released $0.3 million of a deferred tax valuation allowance.

Legal Matters

Legal Matters	6 Months Ended
	Jun. 14, 2015
Commitments And Contingencies Disclosure [Abstract]
Legal Matters	10. Legal Matters In 2013, the Company was named as a defendant in a lawsuit along with a large franchisee and the franchisee’s delivery driver. The jury delivered a $32.0 million judgment for the plaintiff where the Company was found to be 60% liable. The Company denied liability and filed an appeal of the verdict on a variety of grounds. In the first quarter of 2015, the appellate court reversed the trial court’s decision and dismissed the claims against the Company. The time period in which the plaintiff may petition the Texas Supreme Court has not yet expired. The Company continues to deny liability in this matter.

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information	6 Months Ended
	Jun. 14, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information	11. Supplemental Disclosures of Cash Flow Information At June 14, 2015, the Company had $1.1 million of non-cash investing activities related to accruals for capital expenditures. During the first quarter of 2015, the Company renewed the capital lease of a supply chain center building and extended the term of the lease through August 2028. As a result of the new lease, the Company recorded non-cash financing activities of $3.4 million for the increase in capital lease assets and liabilities during the first quarter of 2015.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 14, 2015
Segment Reporting [Abstract]
Revenues, Income from Operations and Earnings Before Interest, Taxes, Depreciation, Amortization and Other, for each of Reportable Segments	The following table summarizes revenues, income from operations and earnings before interest, taxes, depreciation, amortization and other, which is the measure by which the Company allocates resources to its segments and which we refer to as Segment Income, for each of our reportable segments. Fiscal Quarters Ended June 14, 2015 and June 15, 2014 Domestic Supply International Intersegment Stores Chain Franchise Revenues Other Total Revenues 2015 $ 149,621 $ 327,374 $ 36,098 $ (24,471 ) $ — $ 488,622 2014 130,852 308,718 34,683 (23,790 ) — 450,463 Income from operations 2015 $ 52,723 $ 26,012 $ 29,569 N/A $ (16,073 ) $ 92,231 2014 44,014 23,124 28,971 N/A (14,746 ) 81,363 Segment Income 2015 $ 54,279 $ 28,315 $ 29,509 N/A $ (9,303 ) $ 102,800 2014 45,673 25,126 28,710 N/A (7,996 ) 91,513 Two Fiscal Quarters Ended June 14, 2015 and June 15, 2014 Domestic Supply International Intersegment Stores Chain Franchise Revenues Other Total Revenues 2015 $ 303,770 $ 665,130 $ 72,320 $ (50,571 ) $ — $ 990,649 2014 266,730 617,769 68,323 (48,507 ) — 904,315 Income from operations 2015 $ 108,250 $ 53,207 $ 58,284 N/A $ (33,257 ) $ 186,484 2014 92,105 47,092 56,394 N/A (30,053 ) 165,538 Segment Income 2015 $ 111,552 $ 57,771 $ 58,258 N/A $ (18,565 ) $ 209,016 2014 93,652 51,151 56,173 N/A (15,968 ) 185,008
Reconciliation of Total Segment Income to Consolidated Income Before Provision for Income Taxes	The following table reconciles Total Segment Income to consolidated income before provision for income taxes. Fiscal Quarter Ended Two June 14, June 15, June 14, June 15, 2015 2014 2015 2014 Total Segment Income $ 102,800 $ 91,513 $ 209,016 $ 185,008 Depreciation and amortization (7,681 ) (6,656 ) (15,028 ) (13,077 ) Gains on sale/disposal of assets 422 131 272 1,687 Non-cash compensation expense (3,310 ) (3,625 ) (7,776 ) (8,080 ) Income from operations 92,231 81,363 186,484 165,538 Interest income 57 27 139 58 Interest expense (19,010 ) (19,851 ) (39,163 ) (40,177 ) Income before provision for income taxes $ 73,278 $ 61,539 $ 147,460 $ 125,419

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 14, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Fiscal Quarter Ended Two Fiscal Quarters Ended June 14, June 15, June 14, June 15, 2015 2014 2015 2014 Net income available to common stockholders - basic and diluted $ 45,909 $ 38,462 $ 92,198 $ 78,936 Basic weighted average number of shares 54,833,094 55,015,394 55,020,404 55,113,616 Earnings per share - basic $ 0.84 $ 0.70 $ 1.68 $ 1.43 Diluted weighted average number of shares 56,628,237 57,124,457 56,820,743 57,246,871 Earnings per share - diluted $ 0.81 $ 0.67 $ 1.62 $ 1.38

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	6 Months Ended
	Jun. 14, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Changes in Stockholders' Deficit	The following table summarizes changes in Stockholders’ Deficit for the two fiscal quarters of 2015. Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Deficit Loss Balance at December 28, 2014 55,553,149 $ 556 $ 29,561 $ (1,246,921 ) $ (2,661 ) Net income — — — 92,198 — Common stock dividends — — — (34,148 ) — Issuance of common stock, net 23,155 — — — — Tax payments for restricted stock upon vesting (36,154 ) — (3,737 ) — — Purchases of common stock (928,464 ) (10 ) (43,142 ) (54,482 ) — Exercise of stock options 191,572 2 2,065 — — Tax impact from equity-based compensation — — 7,556 — — Non-cash compensation expense — — 7,776 — — Currency translation adjustment, net of tax — — — — (268 ) Balance at June 14, 2015 54,803,258 $ 548 $ 79 $ (1,243,353 ) $ (2,929 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 14, 2015
Fair Value Disclosures [Abstract]
Carrying Amounts and Fair Values of Certain Assets	The following tables summarize the carrying amounts and fair values of certain assets at June 14, 2015 and December 28, 2014: At June 14, 2015 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Amount Inputs Inputs Inputs Cash equivalents $ 12,465 $ 12,465 $ — $ — Restricted cash equivalents 68,060 68,060 — — Investments in marketable securities 5,414 5,414 — — At December 28, 2014 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Amount Inputs Inputs Inputs Cash equivalents $ 16,290 $ 16,290 $ — $ — Restricted cash equivalents 93,121 93,121 — — Investments in marketable securities 4,586 4,586 — —

Revenues, Income from Operation

Revenues, Income from Operations and Earnings Before Interest, Taxes, Depreciation, Amortization and Other, for each of Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 14, 2015	Jun. 15, 2014	Jun. 14, 2015	Jun. 15, 2014
Segment Reporting Information [Line Items]
Revenues	$ 488,622	$ 450,463	$ 990,649	$ 904,315
Income from operations	92,231	81,363	186,484	165,538
Segment Income	102,800	91,513	209,016	185,008
Supply Chain [Member]
Segment Reporting Information [Line Items]
Revenues	302,903	284,928	614,559	569,262
International Franchise [Member]
Segment Reporting Information [Line Items]
Revenues	36,098	34,683	72,320	68,323
Operating Segments [Member] | Domestic Stores [Member]
Segment Reporting Information [Line Items]
Revenues	149,621	130,852	303,770	266,730
Income from operations	52,723	44,014	108,250	92,105
Segment Income	54,279	45,673	111,552	93,652
Operating Segments [Member] | Supply Chain [Member]
Segment Reporting Information [Line Items]
Revenues	327,374	308,718	665,130	617,769
Income from operations	26,012	23,124	53,207	47,092
Segment Income	28,315	25,126	57,771	51,151
Operating Segments [Member] | International Franchise [Member]
Segment Reporting Information [Line Items]
Revenues	36,098	34,683	72,320	68,323
Income from operations	29,569	28,971	58,284	56,394
Segment Income	29,509	28,710	58,258	56,173
Intersegment Revenues [Member]
Segment Reporting Information [Line Items]
Revenues	(24,471)	(23,790)	(50,571)	(48,507)
Segment Reconciling [Member]
Segment Reporting Information [Line Items]
Income from operations	(16,073)	(14,746)	(33,257)	(30,053)
Segment Income	$ (9,303)	$ (7,996)	$ (18,565)	$ (15,968)

Reconciliation of Total Segment

Reconciliation of Total Segment Income to Consolidated Income Before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 14, 2015	Jun. 15, 2014	Jun. 14, 2015	Jun. 15, 2014
Segment Reporting [Abstract]
Total Segment Income	$ 102,800	$ 91,513	$ 209,016	$ 185,008
Depreciation and amortization	(7,681)	(6,656)	(15,028)	(13,077)
Gains on sale/disposal of assets	422	131	272	1,687
Non-cash compensation expense	(3,310)	(3,625)	(7,776)	(8,080)
Income from operations	92,231	81,363	186,484	165,538
Interest income	57	27	139	58
Interest expense	(19,010)	(19,851)	(39,163)	(40,177)
Income before provision for income taxes	$ 73,278	$ 61,539	$ 147,460	$ 125,419

Earnings Per Share (Detail)

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 14, 2015	Jun. 15, 2014	Jun. 14, 2015	Jun. 15, 2014
Earnings Per Share [Abstract]
Net income available to common stockholders - basic and diluted	$ 45,909	$ 38,462	$ 92,198	$ 78,936
Basic weighted average number of shares	54,833,094	55,015,394	55,020,404	55,113,616
Earnings per share - basic	$ 0.84	$ 0.70	$ 1.68	$ 1.43
Diluted weighted average number of shares	56,628,237	57,124,457	56,820,743	57,246,871
Earnings per share - diluted	$ 0.81	$ 0.67	$ 1.62	$ 1.38

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 14, 2015	Jun. 15, 2014	Jun. 14, 2015	Jun. 15, 2014
Earnings Per Share [Abstract]
Anti-dilutive stock options to purchase common stock not included in calculating earnings per share	70,910	199,040	70,910	199,040

Changes in Stockholder's Defici

Changes in Stockholder's Deficit (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 14, 2015	Jun. 15, 2014	Jun. 14, 2015	Jun. 15, 2014
Stockholders' Deficit [Line Items]
Beginning Balance	[1]			$ (1,219,465)
Net income		$ 45,909	$ 38,462	92,198	$ 78,936
Tax payments for restricted stock upon vesting				(3,737)	(4,363)
Non-cash compensation expense		3,310	$ 3,625	7,776	$ 8,080
Ending Balance		$ (1,245,655)		$ (1,245,655)
Common Stock [Member]
Stockholders' Deficit [Line Items]
Beginning Balance, (in shares)				55,553,149
Beginning Balance				$ 556
Issuance of common stock, net, (in shares)				23,155
Tax payments for restricted stock upon vesting, (in shares)				(36,154)
Purchases of common stock, (in shares)				(928,464)
Purchases of common stock				$ (10)
Exercise of stock options, (in shares)				191,572
Exercise of stock options				$ 2
Ending Balance, (in shares)		54,803,258		54,803,258
Ending Balance		$ 548		$ 548
Additional Paid-in Capital [Member]
Stockholders' Deficit [Line Items]
Beginning Balance				29,561
Tax payments for restricted stock upon vesting				(3,737)
Purchases of common stock				(43,142)
Exercise of stock options				2,065
Tax impact from equity-based compensation				7,556
Non-cash compensation expense				7,776
Ending Balance		79		79
Retained Deficit [Member]
Stockholders' Deficit [Line Items]
Beginning Balance				(1,246,921)
Net income				92,198
Common stock dividends				(34,148)
Purchases of common stock				(54,482)
Ending Balance		(1,243,353)		(1,243,353)
Accumulated Other Comprehensive Loss [Member]
Stockholders' Deficit [Line Items]
Beginning Balance				(2,661)
Currency translation adjustment, net of tax				(268)
Ending Balance		$ (2,929)		$ (2,929)
[1]	The balance sheet at December 28, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Dividends - Additional Informat

Dividends - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jul. 15, 2015	Jun. 14, 2015	Jun. 15, 2014	Jun. 14, 2015	Jun. 15, 2014	Dec. 28, 2014	[1]
Dividends Payable [Line Items]
Dividends declared per share		$ 0.31	$ 0.25	$ 0.62	$ 0.50
Common stock dividends accrued		$ 17,485		$ 17,485		$ 14,351
Common stock dividend paid				$ 31,039	$ 25,130
Record date of dividend		Jun. 15, 2015
Dividend payable date		Jun. 30, 2015
Subsequent Event [Member]
Dividends Payable [Line Items]
Dividends declared per share	$ 0.31
Record date of dividend	Sep. 15, 2015
Dividend payable date	Sep. 30, 2015
[1]	The balance sheet at December 28, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Accumulated Other Comprehensi27

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 14, 2015	Jun. 15, 2014	Dec. 28, 2014	[1]
Equity [Abstract]
Accumulated other comprehensive loss	$ (2,929,000)		$ (2,661,000)
Reclassification losses from accumulated other comprehensive loss to net income	$ 0	$ 0
[1]	The balance sheet at December 28, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Open Market Share Repurchase 28

Open Market Share Repurchase Program - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 14, 2015	Jun. 15, 2014	Jun. 14, 2015	Jun. 15, 2014	Jul. 15, 2015
Share Repurchases [Line Items]
Common stock repurchased and retired (in shares)	637,587	687,750	928,464	909,231
Common stock repurchased and retired	$ 68,100	$ 49,900	$ 97,634	$ 65,006
Stock repurchase program, amount remaining	35,100		35,100
Share repurchase program, approved amount	$ 200,000		$ 200,000
Subsequent Event [Member]
Share Repurchases [Line Items]
Share repurchase program, approved amount					$ 200,000

Carrying Amounts and Fair Value

Carrying Amounts and Fair Values of Certain Assets (Detail) - USD ($) $ in Thousands	Jun. 14, 2015	Dec. 28, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents, carrying amount	$ 12,465	$ 16,290
Restricted cash equivalents, carrying amount	68,060	93,121
Investments in marketable securities, carrying amount	5,414	4,586
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents, fair value	12,465	16,290
Restricted cash equivalents, fair value	68,060	93,121
Investments in marketable securities, carrying amount	$ 5,414	$ 4,586

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - Fixed Rate Senior Notes [Member] - USD ($) $ in Millions	Jun. 14, 2015	Dec. 28, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Principal amount of outstanding debt	$ 1,522	$ 1,522
Fair value of debt outstanding	$ 1,577	$ 1,597

Sale of Company-Owned Stores -

Sale of Company-Owned Stores - Additional Information (Detail) - Mar. 23, 2014 $ in Millions	USD ($)Store
Restructuring And Related Activities [Abstract]
Number of company-owned stores sold | Store	14
Pre-tax gain on sale of assets, net of goodwill reduction, charged to general and administrative expenses	$ 1.7
Reduction of goodwill related to sale of stores	0.5
Deferred tax valuation allowance	$ 0.3

Legal Matters - Additional Info

Legal Matters - Additional Information (Detail) - 6 months ended Jun. 14, 2015 - USD ($) $ in Millions	Total
Commitments And Contingencies Disclosure [Abstract]
Amount delivered for plaintiff	$ 32
Percentage liable by company for plaintiff	60.00%

Supplemental Disclosures of C33

Supplemental Disclosures of Cash Flow Information - Additional Information (Detail) - USD ($) $ in Millions	Jun. 14, 2015	Mar. 22, 2015
Supplemental Cash Flow Elements [Abstract]
Accruals for capital expenditures related to non-cash investing activities	$ 1.1
Extended lease agreement expiration date		2028-08
Increase in capital lease assets and liabilities related to non-cash financing activities		$ 3.4